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UPDATE 1-Britain's opposition Labour leader pitches to be next PM in 'crunch speech'
(REUTERS)
09/23/2014  |  15:36
(Updates after speech, adds quotes)MANCHESTER, England, Sept 23 (Reuters) - Opposition Labour party leader Ed Miliband cast himself as Britain's prime minister-in-waiting eight months before an election, pledging to wring money from wealthy home owners, hedge funds and tobacco firms to fund better health care.Tuesday's speech, the last he will deliver before a national election in May next year, shifted his party further to the left and away from the centre ground, where one of his predecessors, former prime minister Tony Blair, anchored it....

UPDATE 1-Allergan ordered to show 'business strategy' docs: Frankel
(REUTERS)
09/23/2014  |  14:23
(Adds comment from Allergan)By Alison FrankelNEW YORK (Reuters) - (Reuters) - Allergan's attempt to ward off a precedent-setting joint bid by the Canadian pharmaceutical company Valeant and the hedge fund Pershing Square continues to remake the rulebook for hostile takeovers. On Monday, U....

DEALTALK-Iron ore drop puts ambitious Rio bid on Glencore's agenda
(REUTERS)
09/23/2014  |  11:19
(For more Reuters DEALTALKS, double click on )By Silvia Antonioli and Anjuli DaviesLONDON, Sept 23 (Reuters) - Glencore boss Ivan Glasenberg is not one to shy away from a challenge, or to downplay his ambition.But investor hopes the commodities giant could make a move for mining rival Rio Tinto - left bruised by a sharp drop in iron ore prices this year - are, at best, premature....

China economic restructuring has cut demand for steel, iron ore -Fortescue
(REUTERS)
09/23/2014  |  00:37
MELBOURNE, Sept 23 (Reuters) - A restructuring in China's economy has reduced business confidence and demand for steel and iron ore in the world's top consumer of both commodities, said Nev Power, chief executive of Australian miner Fortescue Metals Group."With the restructuring that's going on in the Chinese economy, it has reduced business confidence to some extent and we're seeing less demand for steel and therefore iron ore through that process," Power said on the sidelines of a mining conference in Melbourne....

UPDATE 1-Wells Fargo admits to control problems from insider-trading case
(REUTERS)
09/22/2014  |  19:47
(Adds details, background, Wells Fargo declining to comment)By Sarah N. LynchWASHINGTON, Sept 22 (Reuters) - A unit of Wells Fargo will admit to wrongdoing and pay a $5 million penalty to settle charges that it failed to have adequate controls in place to prevent an employee from illegal insider trading, U....

UPDATE 1-U.S. SEC to pay $30 mln-plus in largest whistleblower award
(REUTERS)
09/22/2014  |  19:42
(Adds details from law firm that represented whistleblower, quote from anonymous whistleblower)By Sarah N. LynchWASHINGTON, Sept 22 (Reuters) - An anonymous tipster living abroad will be receiving more than $30 million, in the largest whistleblower award ever doled out by U....

UPDATE 1-Carlyle to take Philadelphia refinery logistics public
(REUTERS)
09/22/2014  |  17:38
(New throughout, adds details on JP Morgan offtake agreement)Sept 22 (Reuters) - Philadelphia Energy Solutions, a joint venture part owned by Carlyle Group LP, disclosed plans on Monday to sell shares in an oil rail unloading system it built at the 335,000 barrel-per-day Philadelphia refinery it took over two years ago.The refinery, the largest on the U....

UPDATE 1-London Metal Exchange opens clearing house, to add China currency
(REUTERS)
09/22/2014  |  11:47
* Exchange seeks expansion in top metals consumer China* Clearing house also wants to add over the counter business (Adds details, quotes from LME Clear CEO)By Eric OnstadLONDON, Sept 22 (Reuters) - The London Metal Exchange (LME) on Monday launched its new clearing house, which plans to add the Chinese currency as collateral by year's end to lure more business from the world's top metals consuming nation.The launch of LME Clear is a key step by LME owner Hong Kong Exchanges and Clearing Ltd (HKEx) to generate profits after paying $2....

UPDATE 1-London Mining, Glencore in dispute; shares plunge
(REUTERS)
09/22/2014  |  07:45
(Adds details on funding, share movement)Sept 22 (Reuters) - Iron ore miner London Mining Plc said it was in a pricing dispute with Glencore Plc related to an offtake agreement and was considering its options including termination of the contract.Shares in London Mining fell nearly 13 percent to an all-time low of 22....

UPDATE 1-Private equity adviser settles SEC charges over expense allocations
(REUTERS)
09/22/2014  |  16:26
(Adds details about the case, background, comment from Lincolnshire)By Sarah N. LynchWASHINGTON, Sept 22 (Reuters) - A New York-based private equity advisory firm will pay $2....

Man who ate napkins to conceal insider trading pleads guilty
(REUTERS)
09/19/2014  |  20:37
By Jonathan StempelSept 19 (Reuters) - A Brooklyn, New York mortgage broker, who would scribble secret stock tips on napkins and pass them to an accomplice in Grand Central station before eating them, pleaded guilty to insider trading on Friday, federal prosecutors said.Frank Tamayo, 41, was the middleman in what prosecutors called a three-man scheme that generated $5....

U.S. dollar net longs little changed from last week-CFTC, Reuters
(REUTERS)
09/19/2014  |  20:02
Sept 19 (Reuters) - Speculators' bets favoring the U.S. dollar were flat in the latest week, with buying of the greenback slowing after hitting 15-month highs two weeks ago, according to data from the Commodity Futures Trading Commission released on Friday....

CalSTRS to nearly triple clean energy, technology investments
(REUTERS)
09/19/2014  |  19:56
NEW YORK, Sept 19 (Reuters) - The California State Teachers' Retirement System pension fund plans to nearly triple its investments in clean energy and technology to $3.7 billion over the next five years in a push toward low-carbon investments, the fund said on Friday....

U.S. SEC probing Goldman Sachs internship for brother of Libyan ex-official -WSJ
(REUTERS)
09/19/2014  |  02:11
Sept 18 (Reuters) - U.S. regulators are investigating a Goldman Sachs Group Inc internship for the brother of a former official at Libya's sovereign wealth fund and perks allegedly offered by the bank to the fund, the Wall Street Journal reported on Thursday, citing people familiar with the matter....

U.S. judge awards $40.7 mln in SEC case over bitcoin Ponzi scheme
(REUTERS)
09/19/2014  |  17:00
By Jonathan StempelSept 19 (Reuters) - A U.S. federal judge in Texas ordered Bitcoin Savings and Trust and its owner to pay a combined $40.7 million after the Securities and Exchange Commission established that the company, which sold investments using the virtual currency, was a Ponzi scheme....

UPDATE 1-Russia's VTB to take legal action over Mechel debts - RIA
(REUTERS)
09/19/2014  |  15:09
(Adds comment from Mechel CEO)MOSCOW, Sept 19 (Reuters) - Russian bank VTB will have to take legal action to recover debts from Mechel after other attempts to help the struggling steelmaker failed, RIA news agency quoted VTB's chief executive as saying on Friday.Russian officials have been looking at ways of helping Mechel, which has debts of $8....

U.S. IRS not keeping up with rise in big business partnerships
(REUTERS)
09/18/2014  |  20:52
By Kevin DrawbaughWASHINGTON, Sept 18 (Reuters) - More large U.S. businesses are organizing as partnerships, rather than corporations, and the tax-collecting U....

Big institutions no guarantee of stability for Alibaba IPO
(REUTERS)
09/18/2014  |  17:56
By Akane Otani, Liana B. Baker and Jessica ToonkelNEW YORK, Sept 18 (Reuters) - When Alibaba Group Holding Ltd begins trading on Friday the shares may not be able to avoid the kind of volatility typically seen in trading of eagerly anticipated IPOs, even as the bulk of the shares sold are expected to reside with 25 to 50 behemoth institutions....

UPDATE 1-UK markets swinging towards Scottish "No"
(REUTERS)
09/18/2014  |  16:15
* Investors grow confident "No" vote will win* All but one of basket of Scottish-based stocks higher* Sterling tops $1.64 for first time in two weeks* Yes vote would be barrier to Bank of England rate rise (Adds more market moves, quotes)By Anirban Nag and Sudip Kar-GuptaLONDON, Sept 18 (Reuters) - British financial markets were laying bets that Scots would vote "No" on independence on Thursday, pushing the pound to a two-year peak against the euro and Scotland-based stocks higher in the final hours of polling....

Human rights group sues SEC over delays on resource extraction rule
(REUTERS)
09/18/2014  |  15:18
By Sarah N. LynchWASHINGTON, Sept 18 (Reuters) - A human rights organization sued the U.S. Securities and Exchange Commission on Thursday, saying the agency is "unlawfully" delaying work on a rule that would require oil, gas and mining companies to disclose payments they make to foreign governments....

Reinsurers under pressure to mark out global or specialist turf
(REUTERS)
09/18/2014  |  15:13
By Jonathan GouldMONACO, Sept 18 (Reuters) - Reinsurers are being squeezed by price competition and subdued demand from insurers for their products, and traditional mergers may not be enough to save those that lack either global reach or specialised focus.Medium-sized, 'me-too' reinsurers are ripe for consolidation, executives at the industry's annual meeting in the Mediterranean resort of Monte Carlo said this week, with many wondering which companies might be around to attend in 2015....

GRAPHIC-Investors pricing Russia credit ratings downgrade
(REUTERS)
09/18/2014  |  14:43
By Sujata Rao and Vincent FlasseurLONDON, Sept 18 (Reuters) - Investors are starting to price the risk of Russia's credit rating falling to junk if Western sanctions and Moscow's response plunge the economy into recession and deplete its $450 billion reserves.Being investment grade - at least BBB minus from Standard & Poor's and Fitch or Baa3 from Moody's - allows a borrower to tap a far wider pool of investors, and losing that ranking would be likely to cause big outflows from Russian markets....

UBM says in talks to buy US trade show rival Advanstar
(REUTERS)
09/18/2014  |  06:47
Sept 18 (Reuters) - UBM Plc, a British communications and events company, confirmed that it was in talks to acquire Advanstar, a privately held U.S. trade show organizer....

Alibaba set to price IPO shares amid investor frenzy
(REUTERS)
09/18/2014  |  05:00
Sept 18 (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd is set to sell some $22 billion of shares on Thursday, capping a two-week road show that drew frenzied interest from investors worldwide and may be the world's largest ever initial public offering.The shares are expected to be priced after the markets close at 4 p....

Abu Dhabi's Waha Capital to buy back up to 10 pct of stock
(REUTERS)
09/18/2014  |  04:44
DUBAI, Sept 18 (Reuters) - Abu Dhabi-listed investment firm Waha Capital plans to buy back up to 10 percent of its outstanding shares, pending regulatory approval, the company said on Thursday without disclosing the price it would offer.Waha said the programme, approved by its board on Wednesday, would allow it to repurchase up to 194 million shares....

Investment adviser agrees to pay $600,000 to settle SEC charges on trading
(REUTERS)
09/18/2014  |  20:20
By Suzanne BarlynSept 18 (Reuters) - A Tacoma, Washington-area investment advisory firm that engaged in hundreds of trades that regulators said represented a conflict of interest has agreed to pay $600,000 in sanctions, the U.S....

UPDATE 1-DoubleLine files with SEC to register Long Duration Bond Fund
(REUTERS)
09/17/2014  |  21:55
(Adds DoubleLine declined to comment, details of Long Duration Bond Fund; byline)By Jennifer AblanNEW YORK, Sept 17 (Reuters) - Jeffrey Gundlach's DoubleLine Funds filed on Wednesday with the U.S....

UPDATE 2-U.S. atty general urges changes to fight more Wall St crime
(REUTERS)
09/17/2014  |  20:14
(Adds details from second speech, background)By Aruna Viswanatha and Nate RaymondWASHINGTON/NEW YORK, Sept 17 (Reuters) - U.S. Attorney General Eric Holder on Wednesday called for Congress to take steps to help prosecutors build criminal cases against senior Wall Street executives, saying companies often insulated their leaders from responsibility for misconduct....

Luxembourg opens art freeport to lure super-rich
(REUTERS)
09/17/2014  |  19:37
* Luxembourg joins small, but growing number of freeports* Tapping into interest in high-value physical assets* Centres crammed with bullion, fine wine, sculptureBy Philip BlenkinsopLUXEMBOURG, Sept 17 (Reuters) - Private banking hub Luxembourg sought to lure more wealthy investors on Wednesday by opening a high-security centre designed to look like a jewel box, where collectors can store and trade valuables without paying customs or sales tax.Studded with stones and surrounded by walls and barbed wire, the Luxembourg Freeport has four bullion chambers guarded with 50cm-thick metal doors, and four other chilled rooms designed to hold 700,000 bottles of fine wine, said staff....

UBS says took action over electronic messaging by Singapore staff
(REUTERS)
09/17/2014  |  17:48
ZURICH, Sept 17 (Reuters) - UBS said on Wednesday it had taken action against staff in Singapore for their use of electronic messaging, highlighting how banks have clamped down following probes into interest rate setting and foreign exchange trading.The Swiss bank said a report on Swiss finance blog Inside Paradeplatz website that it had fired employees in Singapore for allegedly using individual and group WhatsApp messages to send sensitive documents to each other was inaccurate....

Asset grab? Turf war? Tycoon's arrest strikes business climate in Russia
(REUTERS)
09/17/2014  |  14:28
By Elizabeth Piper, Anastasia Teterevleva and Vladimir SoldatkinMOSCOW, Sept 17 (Reuters) - It's a tune straight from Vladimir Putin's old songbook: a Russian billionaire under house arrest over vague accusations about a murky past deal, causing a meltdown in the shares of his empire of privatised assets.Vladimir Yevtushenkov's Sistema conglomerate lost a third of its value on Wednesday after he was accused of money laundering in a multi-billion dollar deal to acquire a regional oil company five years ago....

COMPLY-Wall St. watchdog signals shift in bonus disclosure plan
(REUTERS)
09/17/2014  |  14:19
By Suzanne BarlynSept 17 (Reuters) - A controversial plan that would have required job-switching securities brokers to disclose signing bonuses to their clients is making a comeback, but the new version may be weaker and bear little resemblance to the original, some lawyers say.The Financial Industry Regulatory Authority (FINRA), Wall Street's industry-funded watchdog, will present a revised recruitment practices proposal to its board of governors on Friday, Sept 19, according to an agenda on the regulator's website....

Investors tamp down their hopes for mining-company payouts
(REUTERS)
09/17/2014  |  13:43
* Iron ore prices plummet nearly 40 pct this year* 'The end of the Iron Age is here,' Goldman warns* Junior miners facing extinction threatBy Atul Prakash and Blaise RobinsonLONDON, Sept 17 (Reuters) - Investors are facing up to a decline in their lucrative returns from mining shares, as falling prices for iron ore and copper are set to force mining companies to cut their generous dividends.The change in thinking comes as investors reassess the potential for European shares in general....

UPDATE 1-USDA chief says urged Buffett to ready BNSF for record crops
(REUTERS)
09/17/2014  |  02:35
(Adds comment from Canadian Pacific)WASHINGTON, Sept 16 (Reuters) - U.S. Agriculture Secretary Thomas Vilsack met with Warren Buffett last week to urge the billionaire investor to make sure his BNSF railroad is ready for an expected record corn and soy harvest this year....

UPDATE 2-DoubleLine files with SEC to register Long Duration Bond Fund
(REUTERS)
09/17/2014  |  22:28
(Adds detail on Gundlach, new fund)By Jennifer AblanNEW YORK, Sept 17 (Reuters) - Jeffrey Gundlach's DoubleLine Funds filed on Wednesday with the U.S....

U.S. Treasury will monitor bank liquidity rule on munis- official
(REUTERS)
09/17/2014  |  21:47
CHICAGO, Sept 17 (Reuters) - The U.S. Treasury will monitor the impact of a recent bank liquidity rule on the cost of new municipal debt issuance, a federal official said on Wednesday....

UPDATE 2-Sale of storage company PODS being explored - sources
(REUTERS)
09/16/2014  |  16:32
(Adds background on PODS' ownership)By Greg Roumeliotis and Soyoung KimNEW YORK, Sept 16 (Reuters) - PODS Enterprises Inc, a U.S. moving and storage company managed by private equity firm Eagle Merchant Partners, is exploring a sale of that could value it at around $1 billion, including debt, according to people familiar with the matter....

UPDATE 1-U.S. SEC's Gallagher calls for reforms in fixed income markets
(REUTERS)
09/16/2014  |  18:15
(Adds more background about CUSIPs)By Sarah N. LynchWASHINGTON, Sept 16 (Reuters) - A top U.S. regulator called on Tuesday for major reforms in the fixed income markets, saying many of the rules are out of date and lack enough protections for retail investors....

After standoff, Vale and China's Cosco both claim shipping victory
(REUTERS)
09/16/2014  |  00:06
By Stephen Eisenhammer and Brenda GohRIO DE JANEIRO/SHANGHAI Sept 15 (Reuters) - In the end, the answer to Brazilian miner Vale's Chinese shipping problem turned out to be in the problem itself.For two years, Vale SA's Valemax mega-ships - designed to cut the costs of transporting iron ore to China - have not been allowed to dock at Chinese ports, stalling the miner's $4 billion strategy....

ANALYSIS-S&P 500 powers on in a market without big pullback
(REUTERS)
09/16/2014  |  18:42
By Rodrigo CamposNEW YORK, Sept 16 (Reuters) - For all of those waiting for a correction in U.S. stocks, here's the news: you may have already missed it....






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